In December 2024, two Chinese citizens conducted foreign exchange transactions between RMB and Nigerian Naira through USDT, involving an amount of approximately 30 million RMB (approximately 4.1 million USD). The trading mode is: Nigerian clients purchase USDT locally and transfer it to Chinese traders, who sell the USDT in RMB and deposit it into a designated account. This behavior is identified as evading foreign exchange controls and disrupting financial markets. Legal consequences: Two defendants were sentenced to five years in prison and fined. This case was jointly issued by the Supreme People's Procuratorate and the State Administration of Foreign Exchange as a warning case.